Rarely Available 3-Bedroom with Lake and City Views for $925,000: 400 E. Ohio in Streeterville
This 3-bedroom in 400 E. Ohio in Streeterville came on the market in April 2024.
Built in 1982, 400 E. Ohio has 181 units and attached self-parking heated garage with car wash station, where there is also free guest parking.
There are just 4 units per floor.
It’s a full amenity building with valet / cleaners, garage attendant, door staff, engineer, on-site manager, an indoor pool, a sauna, and an exercise room.
This unit is on the 40th floor. It is an east corner unit with lake and city views.
The listing says it has been “upgraded” and is rarely available.
The unit has newly stained dark hardwood floors in the living room, dining room, kitchen, foyer and hallway.
The three bedrooms have new carpet in cream colored Berber.
The listing says the unit has been newly painted, including the ceiling.
The living room has an entertainment center with a 55 inch flatscreen and dimpled mounted electric fireplace.
The bedrooms has new RH Italian linen curtains.
All three bedrooms have been “updated.”
“Primary bath has standing shower including flat stone shower floor with coordinating pebbles. 2nd bathroom has standing shower, including flat stone shower floor and linen texture porcelain with pebbles on shower floor. Guest bathroom has standing shower including polished porcelain on the floor and shower walls , with ceramic penny rounds for the shower floor , and accents of a linear, stain glass mosaic.”
The kitchen has white cabinets with new granite countertops, new white backsplash, a Bosch dishwasher, GE appliances, a new wine cooler and a walk-in-pantry.
The unit has the features that buyers look for including central air and an updated heating system. It also has a Electrolux ventless washer/dryer. One garage space and private storage are included.
It does not have any private outdoor space.
This building is near all the shops and restaurants of Streeterville as well as the AMC movie theater, Whole Foods and Target. It’s a few blocks from Ohio Street Beach.
Listed at $925,000, it was last purchased in 1998 for $510,000.
Is this a deal for 3-bedrooms in Streeterville?
Marie Gordon and Melina Michelin at Berkshire Hathaway Homeservices have the listing. See the pictures and floor plan here.
Unit #4003: 3 bedrooms, 3 baths, 1992 square feet
- Sold in July 1994 for $342,500
- Sold in August 1998 for $510,000
- Currently listed at $925,000
- Assessments of $2004 a month (includes doorman, cable, exercise room, pool, exterior maintenance, scavenger, snow removal)
- Taxes of $14,304
- Central Air
- Washer/dryer in the unit
- 1 heated parking space included
- Private storage included
- Bedroom #1: 18×13
- Bedroom #2: 18×11
- Bedroom #3: 14×11
- Living room: 24×17
- Dining room: 10×14
- Kitchen: 11×9
- Breakfast nook: 9×7
For 3 bedrooms, in that Streeterville location, this will sell quickly.
The lack of cord management really screws up the entertainment center wall
I guess if your dream is to live in a Hilton Garden inn, this place is for you
Views are good
https://www.zillow.com/homedetails/400-E-Ohio-St-APT-4203-Chicago-IL-60611/3867126_zpid/?mmlb=g,26 – Closed for $800k Sellers like to smoke the rock
Probably a block or 2 too far from Eataly to get that bump
August 1998 for $510,000
+CPI = $975k
Owned it for a quarter century, spent a bunch remodeling it, still lagging inflation.
July 1994 for $342,500 +CPI = $720k
which, plus whatever “new” premium, feels a lot better for this.
I guess the condo bubble had started by ’98.
I’d be so depressed forking over almost 9k per month to live in this unit.
“I guess the condo bubble had started by ’98.”
By the 1990s, they started building “luxury” condo towers downtown again. There was more demand than supply and prices were high, as you can see here. But as we now know, over time, dozens of newer buildings went up and those buildings which were popular just 5 or 10 years before, now no longer were.
There were simply too many of these luxury condos.
But I wonder what will happen over the next 10 years? There has been a LOT of infill. Most of the parking lots have been built on. I’m not saying they can’t build new high rises downtown. They can. But the land is getting more difficult to find.
Crain’s reported last week that for the first time in years there are no condo crane’s downtown. There is no new condo high rise building going up anywhere (it’s all apartments.) There are simply too many available units at the luxury price point: The Reed, Tribune Tower, One Chicago, the St Regis, to name just 4 buildings. And they are still competing with the resales in older buildings.
But they will likely never build a new building with 2-bedroom units that cost $500k, which you can still find in the old buildings. This is where the “value” units will be found.
This is relatively good-value building, given indoor pool, large mezzanine level landscaped deck, and exercise room amenities, given large room sizes for all units, given only four units/floor. Parking is “free”, meaning no extra charge for resident-tenant space, and guests not charged for parking. No pokey 2/2 units here.
This looks very corporate and there aren’t enough photos of the unit to get a true feel for it. No outdoor space, either, and I’d prefer bigger windows to highlight the views. Good location, however. Decent square footage – more than I’d expect in a building like this. Probably not a terrible deal for the money, but I hope whoever buys can make it more homey.